face amount

Definition of "face amount"
  1. The initial sum due on a legal document like an insurance policy or a loan agreement, before adding any interest
How to use "face amount" in a sentence
  1. John's life insurance policy had a face amount of $100,000.
  2. The face amount of the loan was $50,000, not including the interest rates.
  3. When she bought her home, the face amount on her mortgage was $200,000.
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